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Altimeter Capital Management, LLC, managed by Brad Gerstner, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 421,815 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. is undergoing significant organizational changes, including laying off 5% of its workforce while accelerating the hiring of machine learning engineers. The company is merging its Messenger and Facebook teams and considering relocating its incorporation to Texas for a more favorable business environment. Meta is heavily investing in virtual and augmented reality, with expected investments reaching $100 billion by the end of the year. The company’s strategic shifts have led Argus to raise Meta’s stock price target from $686 to $775, with a year-to-date price performance of over 20% and a market cap of approximately $1.818 trillion. Additionally, Meta has sold over 1 million Ray-Ban smart glasses in 2024, with 2025 expected to be pivotal for further smart glasses development.
More about Meta Platforms, Inc.
YTD Price Performance: 22.93%
Average Trading Volume: 13,722,994
Current Market Cap: $1846.1B
